APG Asset Management N.V. and
Ariel Investments LLC collectively sold a significant amount of Laboratory Corp of America Holdings' (
LH) shares. Canada Pension Plan Investment Board and Bank of Montreal have substantial holdings in LH stock, demonstrating continued institutional support. LH's Q1 and Q2 2024 earnings beat estimates thanks to demand for health tests, while Q4 2023 earnings were also released. Labcorp announced its winning bid for select assets of
Invitae and also acquired certain assets of BioReference Health's Diagnostics Business. Despite this, its price target was lowered to $240.00 by Evercore ISI, although Jefferies Financial Group raised their price target to $265.00.
Labcorp is set to boost clinical diagnostics with a new deal and has agreed to purchase bankrupt genetic test maker Invitae for $239 million. It also plans to expand its diagnostic reach with a strategic deal with BioReference Health. However, there is speculation that the CEO may not see a pay rise this year, and there are calls for a shareholders’ review of the CEO's compensation package.
Laboratory Corporation of America Holdings LH News Analytics from Tue, 23 Jun 2009 07:00:00 GMT to Sun, 29 Sep 2024 09:27:05 GMT -
Rating 5
- Innovation 2
- Information 5
- Rumor -3
